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■ China is set to follow other Asia-Pacific countries in embracing a cashless society as it taps a boom in e-commerce and electronic payments, with mobile payments likely to soar 52.7 per cent annually in 2013, a research report says.

■ Chinalco Mining Corp International, a unit of China’s biggest aluminium producer, plans to raise as much as $US435 million in an initial public offering in Hong Kong to fund its copper project in Peru.

■ The earnings of stock brokerages in China tumbled by 16.4 per cent last year due to a dwindling trading volume and a drought of new share listings, according to industry data.

China Daily

■ New lending in January is likely to exceed 1 trillion yuan, as credit demand backed by investment projects surges and banks’ willingness to lend at the start of the year increases, analysts said.

■ China, the biggest foreign creditor of the United States, increased its holdings of US Treasury bills to $US1.17 trillion in November, up $US200 million from the previous month, the Treasury Department disclosed on Wednesday.

■ Fears over intellectual property lawsuits by foreign train technology companies will not derail exports of Chinese bullet trains, the Vice-Minister of Science and Technology Cao Jianlin said in an interview, dismissing copycat claims by Japan’s Kawasaki as “nonsense".

■ A former Japanese leader visited a memorial site to victims of Japanese wartime aggression, but analysts were quick to reject any suggestion that Tokyo will change its policies towards China.

■ China will cement its lead as the world’s largest smartphone market in 2013 as the nation is expected to sell 240 million smartphones, nearly one-third of global shipments, industry analysis firm Canalys said on Thursday.